Prime minister Pedro Passos Coelho makes his statement on the bailout exit accompanied by his ministers at St Bento Palace in Lisbon yesterday. Photograph: Reuters/Rafael Marchante

Portugal is to follow Ireland’s lead an exit its EU-IMF bailout without the help of a precautionary credit line, prime minister Pedro Passos Coelho an(...)

Craig Beaumont, head of the International Monetary Fund’s Irish mission: told a conference that wages had been flat in Ireland for some years but it would be unfortunate if they were to pick up when unemployment was still high. Photograph: David Sleator

Getting people back to work must take priority over increasing the wages of those already in jobs, the head of the International Monetary Fund’s Irish(...)

Former ECB president Jean-Claude Trichet has pre-empted any potential request to attend the Government’s banking inquiry. He told the Sunday Independent that the ECB made “collegial” decisions and it should be the  governor of the Irish Central Bank, Patrick Honohan, who attended.  Photograph: Hannelore Foerster/Bloomberg

Trading in Irish Government debt will be boosted when bond markets open this morning following comments by credit ratings agency Moody’s on Ireland’(...)

Portugese prime minister Pedro Passos Coelho said his government would have to introduce “important cuts” in expenditure on social security, health and education. Photograph: Reuters/José Manuel Ribeiro

Portugal’s prime minister has promised further cuts in government spending after the country’s constitutional court rejected austerity measures(...)